Big fall in the price of gold, gold reached a quarter-year low
Gold prices continued to fall today amid mixed signals from the global market. On the last trading day of the week, there is a decline in the price of gold, and gold is currently trading at a year-and-a-half low. In such a situation, if you also want to buy gold and silver, then there is good news for you.
What is the price of gold and silver today?
On the Multicommodity Exchange (MCX) this morning, the futures price of gold fell by Rs 30 to Rs 50,345 per 10 grams, while silver on MCX fell by Rs 76 in the morning to Rs 55,335 per kg. Let us tell you that before this, trading in gold started openly at Rs 50,385, while trading in silver started openly at Rs 55,435. Not only this, gold is currently trading down by 0.06 per cent from its previous closing price, while silver is currently trading at around 0.14 per cent fall from its previous closing price.
What is the condition of the global market?
There is a continuous decline in the prices of gold and silver in the global market too. Today, the spot price of gold in the US market came down to $ 1,713.47 an ounce, which is 0.32 percent lower than the previous closing price. On the other hand, the spot price of silver was also at $ 18.76 an ounce, which is 0.30 percent lower than the previous closing price. Not only this, the price of gold in the global market had reached the lowest level since August 2021 a day earlier. That is, gold is continuously falling in the global market as well.
What do experts say?
Now what do the experts say? So, regarding the rising price of gold, experts say that the effect of the increasing strength of the dollar in the global market will be visible even further on the prices of gold and silver. And under this pressure, the price of gold has gone down to a one-year low. According to the market environment, investors are currently investing in dollars only, while they are selling in gold. At the same time, after increasing the import duty on gold by the government in the Indian market, its consumption has declined. That is, a fall in the price of gold can be seen even further.
